John Fredriksen’s SFL upgraded to ‘buy’ at Fearnleys with $4.7bn backlog to power profit

SFL Corp was raised to “buy” from “hold” by Fearnley Securities in a fresh note.

The share target price was lowered to $13 from $14.

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The target price is equivalent to a dividend yield of 8% and 0.9x Fearnley’s net asset value assessment.